Medical Packaging Market is Expected to Witness a Robust Growth Through 2025
Increasing expenditure on healthcare and emergence of e-commerce
medical sector are fuelling the growth of global medical packaging market.
According
to TechSci Research report, “Global
Medical
Packaging Market By Material (Polymer, Paper & Paperboard, Non-Woven
Fabric and Others), By Packaging Type (Trays, Boxes, Bags & Pouches and
Others), By Packing Type (Primary, Secondary and Tertiary), By Application
(Medical Tools & Equipment, In-Vitro Diagnostic Products, Medical Devices
and Others), By Region, Forecast & Opportunities, 2025”, the market is anticipated to grow at a rapid CAGR during
the forecast period. Key factors fueling the growth of global medical packaging
market are growing awareness pertaining to health, especially in developing
countries, rising disposable income and increasing expenditure on healthcare. Moreover, emergence of advanced
technologies and innovation in packaging in pharmaceutical industry are also
contributing to the growth of this market. The increasing emphasis on safety of
medical products while distribution is further expected to drive the market
growth in next five years. Also, booming e-commerce medical industry and free
home delivery services being provided by them has led to high demand for
packaging materials.
Additionally,
increasing prevalence of various chronic dieses and growing consumption of
medicines are creating need for medical packaging around the world. The
introduction of high quality and customized packaging is also leading to high
growth of global medical packaging market. Furthermore, growing medical
awareness and rising demand for better healthcare & medical facilities are
anticipated to provide lucrative growth opportunities for medical packaging
market. However, the market is also prone to come challenges. Stringent
regulations pertaining to packaging particularly material-specific standards
are likely to hamper the growth of global medical packaging market.
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Global
medical packaging market is segmented based on material, packaging type,
packing type and region. Based on material, the market can be categorized into polymer,
paper & paperboard, non-woven fabric and others. Among them, polymers witnessed
highest growth until 2019. However, paper & paperboard materials are
expected to undergo high growth during the forecast period on account of innovation
in paper industry. Moreover, development of eco-friendly paper is also making
paper and cardboard most popular medical packaging materials.
Based
on packaging type, global medical packaging market can be categorized into trays,
boxes, bags & pouches and others. Among them, bags & pouches are
expected to dominate the market through 2025 as they find wide application in healthcare
sector. Furthermore, the development of barrier pouches is also making bags
& pouches most popular medical packaging materials.
Major players operating in the global medical
packaging market are Bemis Company, Berry Plastics Corporation, 3M Company,
Westrock Company, Toppan Printing Co., Ltd., Thomas Packaging LLC., Wipak
Group, Uhlmann Pac-Systeme GmbH & Co. Kg, Oliver Healthcare Packaging and CCL
Industries Inc. Key growth strategies being adopted by leading companies are
strategic collaborations, mergers & acquisition and product innovation.
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“Advanced
medical delivery system in United States and Canada made North America a
dominating market for medical packaging until 2019. The region is further
anticipated to dominate the global medical packaging market through 2015 with high
healthcare spending intensity and booming pharmaceutical sector. However, Asia
Pacific is evolving as a lucrative market for medical packaging companies owing
to increasing demand for medical drugs and equipment and rising patient pool,” said
Mr. Karan Chechi, Research Director with TechSci Research, a research based
global management consulting firm.
“Global Medical Packaging Market By Material
(Polymer, Paper & Paperboard, Non-Woven Fabric and Others), By Packaging
Type (Trays, Boxes, Bags & Pouches and Others), By Packing Type (Primary, Secondary
and Tertiary), By Application (Medical Tools & Equipment, In-Vitro
Diagnostic Products, Medical Devices and Others), By Region, Forecast &
Opportunities, 2025” has
evaluated the future growth potential of medical packaging market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities in global medical packaging market.
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